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Interim Condensed Consolidated Statements of Cash Flows (Unaudited)
6 Months Ended
Jun. 30, 2024
MYR (RM)
Jun. 30, 2024
USD ($)
Jun. 30, 2023
MYR (RM)
Jun. 30, 2023
USD ($)
Operating activities        
Profit before income tax RM 26,240,099 $ 5,562,643 RM 20,680,347 $ 4,430,332
Adjustments for:        
Impairment allowance of trade receivables 368,459 78,110
Reversal on impairment allowance of trade receivable (64,384) (13,649)
Bad debt written-off 889 189
Unrealised foreign exchange loss/(gain) (95,198) (20,182) 805,197 172,498
Depreciation of property and equipment 178,319 37,802 115,727 24,792
Depreciation of ROU 332,249 70,433 158,698 33,998
Share based payment – Director fees 5,969,038 1,265,377
Gain on disposal of investment (780,319) (167,167)
Interest expense 28,786 6,102 15,875 3,401
Interest income (3,771) (799) (942) (202)
Operating cash flow before movement in working capital 32,954,486 6,986,026 20,994,583 4,497,652
Trade and other receivables (27,164,496) (5,758,606) (40,216,809) (8,615,611)
Loan receivables (26,570,247) (5,632,631)
Trade and other payables 1,642,931 348,285 2,551,187 546,538
Cash used in operations (19,137,326) (4,056,926) (16,671,039) (3,571,421)
Interest received
Income tax paid (371,443) (78,742) (509,142) (109,073)
Net cash used in operating activities (19,508,769) (4,135,668) (17,180,181) (3,680,494)
Investing activities        
Purchase of property and equipment (746,681) (158,289) (645,919) (138,375)
Purchase of intangible assets (3,137,840) (665,191)
Interest received 3,771 799 942 202
Acquisition of financial assets measured at fair value through other comprehensive income (26,888,040) (5,700,000)
Proceeds from disposal of financial assets measured at fair value through other comprehensive income 9,011,505 1,910,350 13,600,066 2,913,530
Net cash used in investing activities (21,757,285) (4,612,331) 12,955,089 2,775,357
Financing activities        
Proceeds from issuance of share capital 30,527,043 6,471,433
Proceeds from initial public offering, net of issuance costs 17,457,899 3,739,990
Proceeds from following public offering, net of issuance costs 10,915,837 2,314,050
Interest paid (28,786) (6,102) (15,875) (3,401)
Repayment of other borrowings (77,519) (16,433) (101,132) (21,665)
Advance to related parties (1,300,359) (275,663) (1,568,941) (336,113)
Repayment of operating lease (318,225) (67,461) (159,371) (34,142)
Contribution from non-controlling interest 618,924 131,206
Net cash generated from financing activities 40,336,915 8,551,030 15,612,580 3,344,669
Net decrease in cash and cash equivalents (929,139) (196,969) 11,387,488 2,439,532
Effect of foreign exchange 2,164,575 431,472 (54,622) (11,702)
Cash and bank balances at beginning of the period 4,637,279 1,010,455 3,995,995 856,058
Cash and bank balances at end of the period RM 5,872,715 $ 1,244,958 RM 15,328,861 $ 3,283,888